VA Loans

WE ARE PROUD TO SERVE OUR VETERANS AND ACTIVE DUTY MILITARY. THANK YOU FOR YOUR SERVICE!

VA Eligibility Requirements To obtain a COE, you must have been discharged under conditions other than dishonorable and meet the service requirements below:

VA Eligibility Requirements

Veteran or Active Duty

When did you serve?

You meet the minimum active-duty service requirement if you served for at least this amount of time:

Between September 16, 1940, and July 25, 1947 (WWII)

90 total days, or

Less than 90 days if you were discharged for a service-connected disability

Between July 26, 1947, and June 26, 1950 (post-WWII period)

181 continuous days, or

Less than 181 days if you were discharged for a service-connected disability

Between June 27, 1950, and January 31, 1955 (Korean War)

90 total days, or

Less than 90 days if you were discharged for a service-connected disability

Between February 1, 1955, and August 4, 1964 (post-Korean War period)

181 continuous days, or

Less than 181 days if you were discharged for a service-connected disability

Between August 5, 1964, and May 7, 1975 (Vietnam War), or

February 28, 1961, to May 7, 1975, if you served in the Republic of Vietnam

90 total days, or

Less than 90 days if you were discharged for a service-connected disability

Between May 8, 1975, and September 7, 1980 (post-Vietnam War period), or

Between May 8, 1975, and October 16, 1981, if you served as an officer

181 continuous days, or

Less than 181 days if you were discharged for a service-connected disability

Between September 8, 1980, and August 1, 1990, or

Between October 17, 1981, and August 1, 1990, if you served as an officer

24 continuous months, or

The full period (at least 181 days) for which you were called to active duty

Between August 2, 1990, and the present (Gulf War)

24 continuous months, or

The full period (at least 90 days) for which you were called or ordered to active duty, or

At least 90 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or

Less than 90 days if you were discharged for a service-connected disability

You separated from service after September 7, 1980, or

After October 16, 1981, if you served as an officer

24 continuous months, or

The full period (at least 181 days) for which you were called or ordered to active duty, or

At least 181 days if you were discharged for a hardship, a reduction in force, or for convenience of the government, or

Less than 181 days if you were discharged for a service-connected disability

I'm on active duty now

90 continuous days

National Guard or Reserves

When did you serve?

You meet the minimum active-duty service requirement if you served for at least this amount of time:

Between August 2, 1990, and the present (Gulf War)

90 days of active-duty service

Any time period

6 creditable years in the Selected Reserve or National Guard, and one of the descriptions below is true for youAt least one of these must be true. You:

Were discharged honorably, or

Were placed on the retired list, or

Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, or

Continue to serve in the Selected Reserve

VA Funding Fee

Generally, all Veterans using the VA Home Loan Guaranty benefit must pay a funding fee. The funding fee is a percentage of the loan amount which varies based on the type of loan (purchase or refinance) and your military category, if you are a first-time user or subsequent loan user, and whether you make a down payment. You have the option at closing to pay the funding fee in cash or finance the VA funding fee, but the funding fee must be paid at closing time.

Purchase or Refinance

VA home loan my be used to either purchase or refinance a home. Purchase

The home being purchased must be the Veterans primary residence

Can be used to purchase a site built home, manufactured home, townhome, condominium in a VA-approved project or build a homeRefinance

A Veteran may refinance their primary residence up to 100% of its appraised value

Types of refinances available - Rate/Term, Cash-Out and IRRRL

VA Home Loan Advantages

The guarantee VA provides to lenders allows them to provide you with more favorable terms, including:

No down payment as long as the sales price does not exceed the appraised value.

No private mortgage insurance premium requirement.

VA rules limit the amount you can be charged for closing costs.

Closing costs may be paid by the seller.

The lender can't charge you a penalty fee if you pay the loan off early.

VA may be able to provide you some assistance if you run into difficulty making payments.You should also know that: